Interest Rate Switch definition

Interest Rate Switch shall have the meaning as set forth in Section 2.05. “L/C Payment” shall have the meaning set forth in Section 2.06.
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Interest Rate Switch means, in relation to a Facility, the switch of the Interest Rate applicable to all or part of that Facility to another annual interest rate;
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Interest Rate Switch shall have the meaning set forth in Section 2.05(a).
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Examples of Interest Rate Switch in a sentence

  • In relation to a Facility, you may request an Interest Rate Switch.

  • The Lender agrees that Ex-Im Bank shall not deliver a substitute Disbursement Approval with respect to the exercise of an Interest Rate Switch.

  • If the applicable Facility is not repaid in full on the last day of the final interest period to which the Interest Rate Switch applies, the Interest Rate applicable to that Facility will automatically revert to our standard variable interest rate as at that date plus any Low Equity Margin unless it is agreed that a different Interest Rate will apply.

  • For the avoidance of doubt, a Discount Margin Term will expire if an Interest Rate Switch is agreed to in accordance with clause 8.1.

  • We can choose whether or not to approve your request for an Interest Rate Switch.

  • Provided you are not in breach of any of the terms of this Agreement, during the Term of this Loan you may request an Interest Rate Switch, without the requirement for any of the parties to this Agreement to sign further documents.

  • You and the Guarantor(s) will be sent written confirmation of the Interest Rate Switch once we have approved your request.

  • An Interest Rate Switch means a switch from a floating interest rate to a fixed interest rate or vice versa.


More Definitions of Interest Rate Switch

Interest Rate Switch agree that in accordance with the terms of this Facility Agreement, any one person named as Borrower may request an Interest Rate Switch during the term of this Facility, and we may act upon that request which will bind all of you. • INTEREST ONLY PERIOD: agree that in accordance with the terms of this Facility Agreement, any one person named as Borrower may request an Interest Only Period during the term of this Facility, and we may act upon that request which will bind all of you. Dated this day of by Director and by Director each being a Director of the above Company WITNESS to all of the above signatures (otherwise specify) Witness Signature Witness Name Witness Occupation Witness Address
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Interest Rate Switch shall have the meaning set forth in Section 2.05(a). “L/C Bank”, with respect to each Letter of Credit, shall mean a commercial bank acceptable to the Lender and Ex-Im Bank which either issues, confirms or advises such Letter of Credit. For the avoidance of any doubt, the Lender can be an L/C Bank. “L/C Payment” shall have the meaning set forth in Section 2.06.
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